Business News Network

We have been discussing about various aspects of the high-risk merchant account market for years and have almost sure reached on most, if not all of them, of the most important issues. Here are some more advices on high risk merchant account services.

High-risk merchant accounts are a collection of finance services that allow businesses to receive card payments from customers. Credit card processors assign merchants to one of two categories: high risk or low (normal) risk, based on a number of factors. High-risk merchants face limited choices in processors, plus raised fees and stricter contracts. Being named as high-risk looks terrible. But in some cases, it can be your only option.

It’s practically not possible for online shopping merchants to do their business without receiving payments from credit or debit cards. Before you can take “plastic,” you need a payment processor who acts as a liaison between you, banks, and credit card networks.

A lot of financial service providers do business exclusively with low-risk businesses, who they see as a safer investment. That means businesses considered high-risk will have a very poorr selection of potential processors to choose from. Any processor you approach will take a careful, detailed look at your business to determine if you fall under their definition of “high risk,” based on the financial risk your company represents.

Here are some high risk credit card processors : With a reputation for transparent and honest sales practices, Payline Data offers quality customer support along with several merchant-friendly rate structures. Month-to-month billing and no early termination fee are also pluses.

Instabill was one of the better high risk merchant account providers we came across in our search. Their customer support agents were very clear and forthcoming with information. One thing to note is that Instabill is not cheap. For example, a Tech Support business would need to pay 4.95% + 0.25 plus the interchange fee for every transaction. That is significantly more than what non-high risk merchants charge, and even slightly higher than other companies on this list. However, this is unavoidable in high-risk industries. The reason we were pleased with Instabill’s offer was due to how easy it was to get pricing information in the first place – something that can’t be said for a lot of their competitors. Instabill does not post any of their prices online, since the cost will be highly dependent on the industry and bank involved in setting up the merchant account. However, you can get a quote by speaking with a sales representative and obtain a quote very quickly.

We did transactions on all of the high risk credit card processors, to be able to compare and our pick was HRMA-LLC. They cover all business types, have a large experience in the business, fast customer support and low fees.

Do you have a business related to cigar website online sales ? HRMA-LLC can help you. Read extra info on High risk merchant account.